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Zip Code 76630: Rising Home Values and High Ownership Rates in Bruceville-Eddy, Texas
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
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Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Zip code 76630, located in Bruceville-Eddy, Texas, presents an interesting case study of homeownership and rental trends over the past decade. This area has experienced fluctuations in its population and housing market, with a general trend towards increased homeownership and rising average home prices.
The ownership percentage in this zip code has shown a steady increase from 2013 to 2022. In 2013, 87% of residents were homeowners, and this figure rose to 88% by 2022. This upward trend in homeownership coincides with the increase in average home prices observed in recent years. While specific home price data for earlier years is not available, we can see that the average home price in 2023 was $318,811, rising to $320,549 in 2024, indicating a modest but steady appreciation in property values.
Federal interest rates have played a significant role in shaping homeownership trends in zip code 76630. The period from 2013 to 2020 saw historically low interest rates, ranging from 0.08% to 2.16%. This low-interest environment likely contributed to the high and increasing homeownership rates observed during this time. As interest rates began to rise more sharply in 2022 (1.68%) and 2023 (5.02%), we see the homeownership rate stabilizing at 88%, suggesting that higher borrowing costs may be tempering further increases in homeownership.
The rental market in zip code 76630 has shown interesting trends as well. The percentage of renters decreased from 13% in 2013 to 12% in 2022, inversely mirroring the increase in homeownership. Average rent prices, however, have been volatile. In 2013, the average rent was $348, which jumped significantly to $913 in 2014. Rent prices continued to fluctuate, reaching $1,072 in 2019 before settling at $1,050 in 2022. These fluctuations in rent prices, coupled with the decreasing renter population, suggest a complex rental market influenced by factors such as housing supply, local economic conditions, and population changes.
Looking at the most recent data, the average home price in zip code 76630 increased from $318,811 in 2023 to $320,549 in 2024, representing a growth of about 0.55%. This modest appreciation occurred despite the federal interest rate rising from 5.02% in 2023 to 5.33% in 2024, indicating some resilience in the local housing market.
Applying predictive models to forecast 5-year trends, we can anticipate continued growth in average home prices, albeit at a moderate pace. If the current trajectory holds, average home prices could potentially reach around $330,000 to $340,000 by 2029. For rent prices, the forecast suggests a potential stabilization or slight increase, possibly reaching an average of $1,100 to $1,200 per month by 2029, assuming economic conditions remain relatively stable.
In summary, zip code 76630 has demonstrated a strong preference for homeownership, with rates consistently above 80% and reaching 88% in recent years. The area has seen appreciating home values and fluctuating but generally increasing rent prices. The interplay between federal interest rates, homeownership rates, and housing prices suggests a resilient local market adapting to changing economic conditions. As we look to the future, moderate growth in both home prices and rent can be expected, barring any significant economic shifts.
